Footwear leads On to achieve highest-ever quarterly sales
17/08/2022
Net sales from footwear, specifically, rose by 68.2% year on year to $295 million (280.6 million Swiss francs), by far the brand’s largest category.
North America again came out in front of other markets after a 102.5% increase resulted in net sales of $190.9 million (181.7 million Swiss francs). This was followed by a 17.5% boost to European sales, which brought in $87.6 million (83.3 million Swiss francs) in net sales over Q2, while Asia-Pacific (up 52.5%) took in $18.8 million or 17.9 million Swiss francs in net sales for the business.
Meanwhile, wholesale orders (up 70.1%) represented On’s largest sales channel for the three-month period, worth $195.5 million (186 million Swiss francs). Direct-to-consumer sales followed, up 60.8% on the comparative period to reach approximately $111 million (105.6 million Swiss francs).
Co-chief executive and chief financial officer, Martin Hoffmann, commented: “We are very pleased and proud to report that we have reached our highest quarterly net sales in history in Q2. Our team has done an outstanding job to efficiently manage product flows in what we expect to be the near final stages of supply shortages stemming from last year’s factory closures.”
June saw On’s net sales exceed 100 million Swiss francs ($105 million) in a single month for the first time in the company’s history, Mr Hoffmann added.
Image: On via Instagram.
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